Vitol assumed that as the major shareholder they would dictate the terms of crude sale. After all their driver is the securing of crude stocks. However Nido did not agree to the terms and after some argument opted to market their own share. Hence now all the partners except Nido will receive their share from Vitol once sold. Nido will market their own. Which begs the question; when? There is a difference in crude price dependant on parcel size. Beyond that my knowledge is limited.
What this means for Filipino oil for Filipinos I am not sure. You would think there would be pressure to market the crude locally.
also worth considering about galoc, page-6
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